Was Italy ever on gold?
AbstractThis article deals with the evolution of the Italian economy in the last part of the nineteenth century and the beginning of the twentieth century with particular emphasis on money and banking. It also deals with the problem of the huge Italian public debt. In this context it examines the exchange rate regime and presents a model of exchange rate determination for the years 1872-1913. An important element of Italian policy was the committment of limiting the fluctuations in the exchange rate while isolating the process of money creation from external shocks. This process was rather different from the classic adjustment process envisaged by the "Gold Standard Myth"
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 37160.
Date of creation: 2000
Date of revision:
Gold Standard; Monetary Regimes; Fixed Exchange Rate; Economic History of Italy;
Find related papers by JEL classification:
- N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
- O24 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
- N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
- F31 - International Economics - - International Finance - - - Foreign Exchange
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